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Cardano Aims To Facilitate Users With Smart Contracts

According to the announcement from IOHK, “Project Alonzon testnet” has moved from Blue to White and is making it possible for Cardano to launch smart contracts. IOHK is the development team of the Cardano blockchain. The team made the announcement recently, revealing that the testnet is successful. Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives In their announcement, the development team shared the success of the “#Alonzon testnet” fork to a new version, “#AlonzonWhitenode.” The announcement also disclosed that the latest version has commenced making blocks immediately. HARD FORK SUCCESSFUL: Delighted to report around 19.44 UTC today we successfully forked the #Alonzo testnet to the new #AlonzoWhite node. The new network is happily making blocks already. 1/5 — Input Output (@InputOutputHK) July 14, 2021 This new fork is taking the network a step further to launching smart contracts, which will be beneficial for its users. Cardano Testnet Had Limitations The first Cardano testnet may have offered smart contracts, but there were some limitations. The smart contract features it had were only for some people who are core insiders of the blockchain. Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator Given the upgrade that the team has announced, the network can now accommodate up to 500 validators, developers, and stake pool operators who will test the features. According to the announcement, the new Fork “Alonzon white” will run for 2 to 4 weeks. Then, it will upgrade to the Alonzo Purple, which is the final testnet for this current phase of its development. Before now, there has been some backlash against the network from the community. However, even with all those issues, the Cardano blockchain founder Charles Hoskinson assured the community that the project is moving as they planned it. He made this statement on Youtube, saying that the team is following the roadmap they set earlier for the project. Hoskinson also noted that Cardano had facilitated the sale of over $10 million worth of NFTs on its network. Also, apart from the NFTs, the founder mentioned that the network had facilitated assets sales worth tens of thousands. The ADA market is flourishing after a hectic week of trading in the red zone | Source: ADAUSD on TradingView.com He continued to assure the community that the release of Alonzo White to the Cardano mainnet will enable developers to launch NFTs, dApps, and other projects. More Developments in DeFi After the announcement of the Alonzo white fork, a DeFi and NFT marketplace, Spores Network disclosed that it had raised a whopping $2.3 million through its fundraising event yesterday, July 16, 2021. According to the company, it plans to utilize the best features of Cardano, such as low transaction costs, higher transaction throughput, and low carbon footprint, to make NFTs available for mainstream users. Related Reading | Nifty’s Inc. Partners With Warner Bros To Roll Out A Social NFT Platform In recent times, more and more artists and companies are joining the NFT market. Some notable ones include Dolce & Cabbana plus Sorare, a “fantasy soccer NFT platform.” In addition, Sorare recently closed a $532M in a funding round. All these interests and collaboration mean more gains to the Cardano network and the people who use it. Featured image from Pexels, chart from TradingView.com

Bitcoin price hints at 'megaphone' bottom pattern, and a breakout toward $40K

The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias.

Bitcoin’s (BTC) latest rebound from below $30,000 has increased its prospects of extending its retracement move higher, at least according to one classic technical pattern.

Dubbed as Broadening Formation, the megaphone-shaped pattern appears when the price moves inside two diverging trendlines. Investopedia states that a broadening formation represents disagreement over the next potential bias among investors. As a result, the price forms higher interim peaks and lower interim lows.

Bitcoin appears to be trading inside a similar structure, as shown in the chart below. Nonetheless, the cryptocurrency lacks volatility, one of the key features of the broadening formation pattern.

Stabilized Bollinger bands reflect limited price volatility in the Bitcoin market. Source: TradingView.com

Should the pattern play out, the Bitcoin price will undergo a bullish breakout above the structure’s upper trendline.

In doing so, it would expect to rise by as much as the maximum height between the broadening formation’s upper and lower trendline. The upside setup appears because traders interpret broadening formation as a trend reversal pattern.

But until then, the pattern offers swing trading opportunities to daytraders, i.e., a bounce from the lower trendline tends to present Long opportunities toward the upper trendline, and a pullback from the upper trendline could have traders open short positions toward the lower one.

Again, the Bitcoin price volatility is lower enough to invalidate such intra-range setups.

Falling channel

The most interim resistance level is near the dashed trendline in the Bitcoin chart below.

Bitcoin falling channel setup limits bullish broadening formation’s upside outlook. Source: TradingView.com

A close above the dashed trendline expects to have Bitcoin test $35,00 as its next resistance target. On an extended move higher, the potential to hit $40,000 is higher based on the cryptocurrency’s recent price patterns.

Conversely, a pullback from the dashed trendline tends to validate a Falling Channel pattern. On the other hand, Bitcoin could retrace its steps lower towards the so-called Broadening Wedge’s support trendline (next downside target near $28,500).

Bitcoin price fundamentals

The conflicting Bitcoin setups emerge as bulls continue to defend $30,000 as support while bears enjoy control over the $34,000-$35,000 area. Unfortunately, that has landed BTC price inside a constrained trading range, giving no interim clues about where it wants to head next.

Fundamentals have played a key role in trapping Bitcoin prices. To the upside, inflationary pressures from the traditional finance sector have provided tailwinds to Bitcoin’s safe-haven narrative. Meanwhile, the downside is an increasingly global regulatory discontent toward the cryptocurrency sector.

Related: SEC Chairman says cryptocurrency falls under security-based swaps rules

In the last two months, the market has witnessed China banning cryptocurrency trading, India raiding regional crypto exchange WazirX, and the U.K. banning Binance’s subsidiary from operating regulated businesses. In addition, Japan and Hong Kong also issued warnings and restrictions against Binance.

Earlier this week, the U.S. state authorities closed crypto company BlockFi’s accounts, alleging that the startup sold unregistered securities. The sector also received criticism for increasing carbon footprints via mining, which requires heavy computational power to run blockchains.

„As long as global regulation of cryptocurrencies is not eased, or a resolution is met, I believe it is difficult to gain public trust, and for Bitcoin to scale the heights it reached in early 2021,” Adam Todd, Founder, and CEO of Digitex, told Cointelegraph.

JG Collins, head of the Stuyvesant Square Consultancy, also wrote in his Seeking Alpha op-ed that „national economics regulators, state environmental regulators, and municipalities troubled by „mining” raising local electrical rates will sweep cryptos away like a tsunami.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Where to buy DEXE tokens after DeXe Network surges in value by 110%

Different cryptocurrencies in a circle with a golden bitcoin in the middle. Different cryptocurrencies concept. 3D illustration

This article tells you everything you need to know before you invest in DeXe (DEXE), a cryptocurrency that has risen in value by 110% to around $8.30 in the last 24 hours.

With its trading volume increasing by 615% to over $171 million, DeXe is a coin that is working its way into the mainstream cryptocurrency sector with real purpose. As a result, an increased number of investors and traders have been expressing their interest in DeXe tokens, conducting research and asking questions to other members of the cryptocurrency community.

To help you decide if DEXE is an asset you want to consider more closely, this article explains what it is, how it works, and what our DeXe price forecast is for the coming years. If you want to buy DEXE immediately, scroll down to the section directly below. Here, you can find our selection of the best places to buy DEXE crypto in the UK and elsewhere.

How & where to buy DeXe tokens online

If you want to buy DEXE coin quickly, easily and affordably, check out the two options we have outlined before. Simply click on one of the links, fill out a few details, sign up, deposit funds and purchase the number of DEXE tokens you want to hold.

Here are the two best platforms to buy, sell and trade DeXe coin right now:

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Register with eToro instantly

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Register with Binance instantly

What is DeXe (DEXE)?

DeXe.network is a cryptocurrency project and DEXE is the platform’s native token that enables the ‘open and permissionless system.’ In essence, DeXe aims to be an innovative DeFi platform with social trading features that enables users to copy the strategies of top-performing traders.

The DEXE token has two key functions:

  1. Automatic buyback and distribution among insurance vault, farming rewards among token holders and burning of tokens for a % of traders’ rewards.
  2. Participation in DeXe DAO. It is not required to be a DEXE token holder to participate in DeXe.network and benefit from the several of its social trading functions. However, to become a member of the DAO, one needs to hold DEXE tokens.

Should I buy DeXe tokens today?

If you have conducted extensive due diligence and like the concept of the project, and you feel it can create long-term tokenholder value, investing in some DEXE coin may be a good move. In addition, if you want to be part of the DeXe DAO, holding DEXE tokens is a must.

However, cryptocurrencies are often volatile, and this is especially true of relatively new altcoins like DEXE. As a result, you need to exercise increased caution and ensure you never invest money you can’t afford to lose.

Will DEXE make me rich?

The DeXe.finance platform itself could help traders better their strategies and increase returns, and holding DEXE coin could prove to be lucrative should it gain value in the long run. However, it is unlikely to a single cryptocurrency asset to make holders of it rich.

DeXe price prediction 2021

Our DEXE price prediction is as follows: $11.50 this year, $14.40 by next year and up to $28.20 within 5 years.

Social media coverage of $DEXE

For the latest information on DeXe and other trending cryptocurrencies, check out our crypto news section.

The post Where to buy DEXE tokens after DeXe Network surges in value by 110% appeared first on Invezz.

from Cryptocurrency – Invezz

Why buy PancakeSwap (CAKE) in July 2021?

Pancakeswap overtakes Ethereum (ETH) as CAKE hits record levels

PancakeSwap CAKE/USD is a Binance Smart Chain-based DEX that was launched by anonymous developers. Its an automated market maker (AMM) and decentralized finance (DeFi) application that has seen a lot of activity recently.

On June 29, we saw Fetch.ai launch Intelligence Automation for PancakeSwap and Uniswap V2. This enabled users to create up to five DeFi Agents with stop-loss triggers, and generally lead to an increase in the usage of PancakeSwap which raised the demand for the CAKE token.

On July 22, PancakeSwap introduced the C98 Syrup Pool, which provides total rewards of up to 3,000,000 C98 tokens. In other words, it enabled users to provide liquidity in the form of C98-BNB LP tokens to earn CAKE. 

Furthermore, we also saw the Axie Infinity Farm and Soup Pool going live at this time where users could stake CAKE and earn AXS, or Stake AXS and earn CAKE. They can also stake AX-BNB and earn CAKE.

As if this was not enough, we also saw the addition of the Tranchess CHESS token addition.

At this point in time, it is sufficient to say that the PancakeSwap AMM has been receiving a lot of activity, and as such we can expect to see an increase in its circulating supply, token demand, and most importantly, value.

Should you buy PancakeSwap (CAKE)?

On July 22, PancakeSwap (CAKE) had a value of $13.

CAKE experienced its all-time high on April 30, where it managed to get to a value of $43.96.

This being the case, we can see just how much potential the token has of climbing in value. To further estimate its value, we will be looking at last month’s performance as a point of reference.

On June 5, we saw CAKE getting to a high point of $20. Discussing its lowest point of the month, we saw it on June 22 where it managed to drop to $10.

This indicates a $10 difference from its high to its low point, which makes it at a solid price point to buy at $13.

With the addition of so many cryptocurrencies on PancakeSwap, we can expect a lot of people to start staking CAKE or earning CAKE. In any case, this will drive up its demand, and in turn, value.

Having a daily trading volume of $336 million is an indication of just how popular PancakeSwap is, and as such, we can expect its value to rise to the $15 mark by the end of July. 

Furthermore, it might even get to its recent high of $20 by the end of August if it keeps up this momentum, and this is why at the $13 price range, PancakeSwap (CAKE) is a worthwhile investment.

The post Why buy PancakeSwap (CAKE) in July 2021? appeared first on Invezz.

from Cryptocurrency – Invezz

Binance Australia partners with Koinly as ATO’s fixation with crypto tax intensifies

Binance Australia partners with Koinly as ATO's fixation with crypto tax intensifiesBinance has faced regulatory heat from several countries across the globe. The Seychelles-based cryptocurrency exchange has found itself being called to task by financial watchdogs in an increasing number of jurisdictions, triggering a number of banking institutions to halt payments to the site. To avoid the addition of Australia to its ever-widening list of regulatory […]

Bitcoin and Crypto Are Dragged Down Even Further

Bitcoin is in a very dark place at the time of writing. After trading for a new all-time high of $64,000 per unit in mid-April of this year, the currency has once again (for the second time in the past few months) dropped below the $30,000 range and is now trading for just over $29,000.

The post Bitcoin and Crypto Are Dragged Down Even Further appeared first on Live Bitcoin News.